netrashetty
Netra Shetty
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000.[1] The company reports US$779 billion as assets under its management.[2] It is headquartered in Midtown Manhattan, New York City.[3]
The corporation, formed by J.P. Morgan & Co. employees Henry S. Morgan (grandson of J.P. Morgan), Harold Stanley and others, came into existence on September 16, 1935. In its first year the company operated with a 24% market share (US$1.1 billion) in public offerings and private placements. The main areas of business for the firm today are Global Wealth Management, Institutional Securities and Investment Management.
The company found itself in the midst of a management crisis in the late 1990s[4] that resulted in a loss of a number of the firm's staff [5] and ultimately saw the firing of its then CEO Philip Purcell in 2005.
Four stages of team selection and development were adopted to select project team members and allocate roles. As discussed by , these four stages are: forming, storming, norming and performing (1995-1997). The forming stage is basically the testing stage, the transition from individual to the team member while the storming stage is where the project objective is made clear to all project members. The norming stage is the established stage, where the project manager moves from his administrative role to a supportive role. Finally, the performing stage is where the team is already highly committed and eager to achieve project objective and the level of work performance is high ( 1995-1997). Team members were selected in the basis of their capacity and current company responsibilities that could contribute to the success of the project. As there are no outside participants, there was only the need to determine which among the organizational members would be affected by the project, thus making them project team members.
Mr. deals with the issues that are associated in the project environment. For example, the introduction of this new technology in the firm caused some organisational members to resist. This was remedied through widespread information dissemination that aimed to make everyone involved understand the benefits of the project. Another issue was the skepticism over the impact of the KM project in the overall company performance. This issue did not subside until after the hard figures came out, which gave evidence that indeed, KM was a worthwhile project.
when we embarked on this study. There is definitely a trend toward integrating HR into the
business planning process, measuring aspects of human resources management and its contri-
bution to the organizational bottom line, and establishing a collaborative working environment
between HR and management. Nevertheless, there are several indications that human resources
management is not yet recognized as a critical contributor to agency mission accomplishment.
HRM alignment is still evolving, and there are several steps agencies can take to help it along.
Fully integrate human resources management into the business planning process.
Although many more agencies than expected include HR representatives in the agency planning
process and integrate human resources goals, objectives, and strategies into agency strategic
plans, most are still struggling in this area. Agency executives need to recognize the value that
HR can impart to discussions about agency activities, priorities, and goals. In turn, HR leaders
need to understand agency mission needs and be able to contribute substantive, creative solutions
to meet these needs. Once these realizations occur, HR will no longer be segregated out as a
support function but will become an integral, contributing factor to agency planning and success.
Focus on organizational activities that assist in agency decision-making.
Because of NPR mandates to downsize, streamline, and improve customer service, HR’s recent
improvement efforts have focused on the efficiency and effectiveness of traditional HR programs
and processes. These are important endeavors. However, in response to GPRA’s call to measure
performance and demonstrate value, it is time to start concentrating efforts outside of the
traditional realm of HR and on to broader organizational issues. When HR demonstrates that it
can have an impact on agency direction, then it will gain credibility with agency executives and
earn a seat at the table. To generate that type of impact, HR needs to develop strategies based on
actual business needs, which will require involving management in the planning process. In
addition, it must address Governmentwide concerns about the workforce capabilities of the
future, such as workforce planning, succession planning, training needs assessments, skill gap
analyses, etc.
involved in broader organizational activities, HRM measures should evaluate the impact these
activities have on the organization as a whole. At this point, measures typically focus on outputs
and processes and are generally internalized to the HR function or office. The data are used
mostly to make improvements to HR-specific policies and procedures. While this kind of
measurement is important, measures should also focus on organizational outcomes. Information
from these measures should then be used to inform agencywide decisions and find solutions to
agencywide concerns.
Advance the collaborative working environment between HR and management.
To facilitate all of the changes recommended above, HR has to have a strong, collaborative
working relationship with top agency and line management. Since there is no tradition in most
agencies of HR as strategic partner, much depends on personal relationships established by HR
officials with top managers and key line managers. Meanwhile, HR and agency management need
each other more than ever. Authorities are being delegated to line managers, HR staffs are being
downsized, and top agency management is being asked to show how its resources are being used
to support mission accomplishment. HR must be able to make the case that everyone in the
agency, from the agency leader down to the HR function, must share accountability for ensuring
that the use of human resources not only complies with Federal laws, rules, and regulations, but
adds to the success of the agency.
This shared accountability is beginning to occur. HR management is beginning to earn a seat at
the table. HR line offices are becoming more consultative and involved in day to day manage-
ment activities. Nevertheless, there is still a long way to go in becoming strategic partners. First,
HR needs to build its own internal competencies to deal with organizational issues, change, and
strategizing. Further, it needs to educate itself on agency and program missions in order to
understand what is important to those organizations and be able to offer creative and innovative
alternatives and solutions to organizationwide issues. Finally, it must continually assert the
absolute criticality of effective HRM to organizational success.
The corporation, formed by J.P. Morgan & Co. employees Henry S. Morgan (grandson of J.P. Morgan), Harold Stanley and others, came into existence on September 16, 1935. In its first year the company operated with a 24% market share (US$1.1 billion) in public offerings and private placements. The main areas of business for the firm today are Global Wealth Management, Institutional Securities and Investment Management.
The company found itself in the midst of a management crisis in the late 1990s[4] that resulted in a loss of a number of the firm's staff [5] and ultimately saw the firing of its then CEO Philip Purcell in 2005.
Four stages of team selection and development were adopted to select project team members and allocate roles. As discussed by , these four stages are: forming, storming, norming and performing (1995-1997). The forming stage is basically the testing stage, the transition from individual to the team member while the storming stage is where the project objective is made clear to all project members. The norming stage is the established stage, where the project manager moves from his administrative role to a supportive role. Finally, the performing stage is where the team is already highly committed and eager to achieve project objective and the level of work performance is high ( 1995-1997). Team members were selected in the basis of their capacity and current company responsibilities that could contribute to the success of the project. As there are no outside participants, there was only the need to determine which among the organizational members would be affected by the project, thus making them project team members.
Mr. deals with the issues that are associated in the project environment. For example, the introduction of this new technology in the firm caused some organisational members to resist. This was remedied through widespread information dissemination that aimed to make everyone involved understand the benefits of the project. Another issue was the skepticism over the impact of the KM project in the overall company performance. This issue did not subside until after the hard figures came out, which gave evidence that indeed, KM was a worthwhile project.
when we embarked on this study. There is definitely a trend toward integrating HR into the
business planning process, measuring aspects of human resources management and its contri-
bution to the organizational bottom line, and establishing a collaborative working environment
between HR and management. Nevertheless, there are several indications that human resources
management is not yet recognized as a critical contributor to agency mission accomplishment.
HRM alignment is still evolving, and there are several steps agencies can take to help it along.
Fully integrate human resources management into the business planning process.
Although many more agencies than expected include HR representatives in the agency planning
process and integrate human resources goals, objectives, and strategies into agency strategic
plans, most are still struggling in this area. Agency executives need to recognize the value that
HR can impart to discussions about agency activities, priorities, and goals. In turn, HR leaders
need to understand agency mission needs and be able to contribute substantive, creative solutions
to meet these needs. Once these realizations occur, HR will no longer be segregated out as a
support function but will become an integral, contributing factor to agency planning and success.
Focus on organizational activities that assist in agency decision-making.
Because of NPR mandates to downsize, streamline, and improve customer service, HR’s recent
improvement efforts have focused on the efficiency and effectiveness of traditional HR programs
and processes. These are important endeavors. However, in response to GPRA’s call to measure
performance and demonstrate value, it is time to start concentrating efforts outside of the
traditional realm of HR and on to broader organizational issues. When HR demonstrates that it
can have an impact on agency direction, then it will gain credibility with agency executives and
earn a seat at the table. To generate that type of impact, HR needs to develop strategies based on
actual business needs, which will require involving management in the planning process. In
addition, it must address Governmentwide concerns about the workforce capabilities of the
future, such as workforce planning, succession planning, training needs assessments, skill gap
analyses, etc.
involved in broader organizational activities, HRM measures should evaluate the impact these
activities have on the organization as a whole. At this point, measures typically focus on outputs
and processes and are generally internalized to the HR function or office. The data are used
mostly to make improvements to HR-specific policies and procedures. While this kind of
measurement is important, measures should also focus on organizational outcomes. Information
from these measures should then be used to inform agencywide decisions and find solutions to
agencywide concerns.
Advance the collaborative working environment between HR and management.
To facilitate all of the changes recommended above, HR has to have a strong, collaborative
working relationship with top agency and line management. Since there is no tradition in most
agencies of HR as strategic partner, much depends on personal relationships established by HR
officials with top managers and key line managers. Meanwhile, HR and agency management need
each other more than ever. Authorities are being delegated to line managers, HR staffs are being
downsized, and top agency management is being asked to show how its resources are being used
to support mission accomplishment. HR must be able to make the case that everyone in the
agency, from the agency leader down to the HR function, must share accountability for ensuring
that the use of human resources not only complies with Federal laws, rules, and regulations, but
adds to the success of the agency.
This shared accountability is beginning to occur. HR management is beginning to earn a seat at
the table. HR line offices are becoming more consultative and involved in day to day manage-
ment activities. Nevertheless, there is still a long way to go in becoming strategic partners. First,
HR needs to build its own internal competencies to deal with organizational issues, change, and
strategizing. Further, it needs to educate itself on agency and program missions in order to
understand what is important to those organizations and be able to offer creative and innovative
alternatives and solutions to organizationwide issues. Finally, it must continually assert the
absolute criticality of effective HRM to organizational success.
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